bridgei2i

OCTOBER 7, 2020

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

CIO Business Intelligence

MAY 17, 2023

Excellent opportunities to save and make money, reduce risk, and develop new models of business emerge when business, IT and data teams work together, identifying where the enterprise’s most valuable data assets reside. Modernization wasn’t a priority for the systems that supported real estate or insurance.

Data-driven 86

Data-driven Strategy IT Insurance 86

Cloudera

FEBRUARY 18, 2021

We’ve written about the changes forced on the traditionally risk-averse insurance industry by COVID-19. In 2021, with the crisis hopefully fading, insurance will have time to evaluate the changes made in 2020, assessing what worked and what didn’t, and planning a new way forward rather than reacting in real time. .

Insurance 105

Insurance Digital Transformation Risk Data-driven 105

bridgei2i

DECEMBER 16, 2021

Case study: Reimagining Catastrophe Underwriting with AI for a Fortune 500 Commercial Insurance leader. The client is a Fortune 500 commercial insurer dealing in traditional and specialty insurance products, industry-leading claims, and risk engineering services. Business Context. Download the case study!

Insurance 52

Insurance Deep Learning Risk Enterprise 52

Cloudera

APRIL 7, 2021

Insurance carriers have a unique opportunity: They have access to powerful technologies and a wealth of information that can help them to better understand their customers and provide an enhanced customer experience. . In a March 2021 poll by Celent , “improving customer experience” was identified as the top focus (63%) for insurers.

Insurance 57

Insurance Digital Transformation Internet of Things IoT 57

CIO Business Intelligence

MAY 8, 2024

On behalf of insurance carriers, pharmacy benefit managers, and other healthcare payers, Expion negotiates prices with pharmacies and medical practices based on volume discounts and other factors. Now, if the model is drifting away, we get alerted automatically, and we fix it.” In the past, anybody could make a mistake easily.

IT 91

IT Cost-Benefit Insurance Unstructured Data 91

bridgei2i

JANUARY 18, 2021

Case study: Subrogation Prediction Using Machine Learning for Property Insurance. The client, a leading P&C insurer, wanted to identify property damage claims that have the potential for subrogation & recovery. Learn how the right AI strategy can take your business to its pinnacle. Business Context.

Insurance 52

Insurance Machine Learning Enterprise Strategy 52

CIO Business Intelligence

NOVEMBER 2, 2023

Yet, controlling cloud costs remains the top challenge IT leaders face in making the most of their cloud strategies, with about one third — 35% — of respondents citing these expenses as the No. It depends on what business model you’re in. 1 barrier to moving forward in the cloud.

Strategy 124

Strategy Data Processing Experimentation Optimization 124

bridgei2i

OCTOBER 12, 2020

Case study: Demand Elasticity Estimation and Price Optimization for an Insurance Major. The client is a P&C insurance leader in Asia wanted to optimize their price & demand elasticity estimation. BRIDGEi2i developed a Conversion model to analyze change in conversion propensity on change in quoted price. Business Context.

Insurance 52

Insurance Optimization Enterprise Strategy 52

bridgei2i

JANUARY 18, 2021

Case study: Sales Growth with Ai-Driven Product Recommendation Framework for a P&C Insurer. The client, a leading North American P&C commercial insurer, wanted to develop and implement an AI-driven product recommendation solution for cross-selling to existing customers. Business Context. How BRIDGEi2i Delivered Value?

Insurance 52

Insurance Sales Machine Learning Strategy 52

bridgei2i

MAY 4, 2020

Episode 4: COVID-19 | Implications and Impact on Insurance Industry. COVID-19 | Implications and Impact on Insurance Industry. In this episode, Anirban Chaudhury talks about how insurers the world over are grappling with new and unprecedented challenges to balance high financial losses, increasing new premiums, and rising claims.

Insurance 95

Insurance Enterprise Sales Digital Transformation 95

Decision Management Solutions

MARCH 25, 2019

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in. 2 – Attracting talent.

Insurance 75

Insurance Data Science Testing Modeling 75

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. The result, Jeevanjee says, is a technology-driven business strategy “that’s a very empowering thing.” Allstate expects to be up and running in 10 states this year for automobile policies and 19 states for rental insurance. “We

Digital Transformation 135

Digital Transformation Insurance Recreation/Entertainment Machine Learning 135

Decision Management Solutions

APRIL 23, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , Insurers can also manage risk more effectively through continuous improvement.

Insurance 69

Insurance Risk Technology Management 69

Decision Management Solutions

MAY 1, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , in which he states that there are only three levers of value in insurance: 1. Sell More , 2. Cost Less to Operate.

Insurance 75

Insurance Technology Predictive Analytics Risk 75

Cloudera

MARCH 25, 2021

The protection and controls around data become increasingly complex when used in the context of banking and insurance activities. Personal and confidential information carries heightened sensitivity in the light of financial, health and insurance activities. Financial institutions and insurers understand the benefits of more data.

Data Strategy 64

Data Strategy Strategy Enterprise Insurance 64

Ontotext

JANUARY 29, 2024

The generative AI buzz and interest in cloud migration shouldn’t be ignored, but as with any technology that requires data strategy, it’s critical that data and analytics professionals be crystal clear about their priorities and confident in the projects that will positively impact their business and goals.

Strategy 52

Strategy Management Metadata Data-driven 52

CIO Business Intelligence

NOVEMBER 8, 2023

For companies whose business units have traditionally operated independently, centralizing IT operations under one strategy can reap significant benefits — especially when it comes to offering a holistic customer experience and establishing a unified data foundation for leveraging the latest emerging technologies.

IT 109

IT Insurance Machine Learning Cost-Benefit 109

DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. When business decisions are made based on bad models, the consequences can be severe. As machine learning advances globally, we can only expect the focus on model risk to continue to increase.

Risk 111

Risk Modeling IT Risk Management 111

CIO Business Intelligence

MARCH 12, 2022

A well-establish, well-executed employee retention strategy is a key competitive differentiator, as a company’s ability to hold on to its talent — especially in tight hiring markets — has profound ramifications for its ability to operate at a high level, without the disruptions that employee turnover bring. “We

Strategy 128

Strategy Cost-Benefit Management Enterprise 128

CIO Business Intelligence

OCTOBER 18, 2023

Dutch insurance and asset management company Nationale-Nederlanden, part of the NN Group, has a presence in 19 countries and serves several million retail and corporate customers. Digitization vs tradition Although the insurance sector has a traditional image, that stopped being the case years ago, says Vaquero.

Digital Transformation 111

Digital Transformation Insurance Interactive Sales 111

CIO Business Intelligence

FEBRUARY 16, 2024

Building an effective GenAI strategy is about much more than launching a point solution or siloed group of tools that only work for one part of the business. In fact, there are five key areas CIOs need to consider when developing an enterprise GenAI strategy, all of which become much more achievable with the right partnerships in place.

Strategy 126

Strategy Insurance Digital Transformation Enterprise 126

CIO Business Intelligence

FEBRUARY 21, 2024

It’s evolved over my 25 years as a CIO, but in general my approach has been a “listen-plan-act” model. The company was in the final stages of refreshing our business strategy; in September 2021, we spun off from Prudential plc to become an independent public company. What is the strategy you eventually developed?

Scorecard 93

Scorecard Insurance Strategy Digital Transformation 93

Corinium

JUNE 6, 2019

I am the Chief Practice Officer for Insurance, Healthcare, and Hi-Tech verticals at Fractal. The Insurance practice is currently engaged with several top 10 P&C insurers in the US, across the Insurance value chain through AI, Engineering, Design & Behavioural Sciences programs.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

CIO Business Intelligence

AUGUST 19, 2022

The traditional in-person process of insurance agents meeting with prospective customers to discuss policies, sign paperwork, and load it into the company’s client/server system came to a complete halt. Because we are an insurance company, what we are is a promise on a piece of paper,” says then-CIO Richard Gilbert. “We

Insurance 90

Insurance Digital Transformation Data Processing Machine Learning 90

Smart Data Collective

MAY 10, 2022

If the AI model detects any, it can flag them for further investigation or automatically halt them. You can train a machine learning model for fraud detection by feeding it with many transactions and assigning them to “fraud” or “non-fraud” categories. Developers also use AI to backtest their trading strategies.

Marketing 110

Marketing Technology Insurance Machine Learning 110

CIO Business Intelligence

MAY 17, 2024

Following is a look at some of the biggest trends in the IT talent market, from hiring practices to salary outlooks to emerging skills — and how they are impacting IT leaders’ talent strategies and IT pros’ career aspirations. A minimum of three years progressive AI experience? That skill set doesn’t exist.

IT 107

IT Insurance Reporting Manufacturing 107

Andrew White

AUGUST 4, 2020

I read the EU Data Strategy some weeks ago. Of course, it could well be that the EU is really looking at the growth of multi-sided platform business models that just happen to be more effectively developed in the US. We must revert to something else: hence a Data Strategy…. The document was made available for public comment.

Data Strategy 52

Data Strategy Strategy Marketing Data Collection 52

CIO Business Intelligence

FEBRUARY 23, 2024

Generative AI takes a front seat As for that AI strategy, American Honda’s deep experience with machine learning positions it well to capitalize on the next wave: generative AI. The key to a successful AI strategy, in part, is the quality and cleanliness of both structured and unstructured data, he says.

IT 122

IT Manufacturing Unstructured Data Strategy 122

CIO Business Intelligence

OCTOBER 13, 2022

Aflac is the leading provider of supplemental health insurance in the United States, and Gilbert has been recognized for his commitment to accelerating the company’s digital transformation strategy. I also speak strategy, so I can communicate with our board. It’s a model that’s designed to increase quality and the speed to pay.

IT 128

IT Insurance Cost-Benefit Modeling 128

CIO Business Intelligence

APRIL 5, 2024

Senate Bill 1047 , introduced in the California State Legislature in February, would require safety testing of AI products before they’re released, and would require AI developers to prevent others from creating derivative models of their products that are used to cause critical harms.

Risk 108

Risk Interactive Insurance Strategy 108

CIO Business Intelligence

JANUARY 29, 2024

The evolving role of IT, coupled with new pandemic-era work models, has sifted the culture conversation away from in-office trappings. Wenhold has instituted a number of strategies to empower Power’s creator culture. To be clear, everyone still fancies a high-end perk.

IT 121

IT Insurance Digital Transformation Technology 121

CIO Business Intelligence

JULY 27, 2023

With the ability to instantaneously ingest reams of data using large language models (LLMs), generative AI technologies such as OpenAI’s ChatGPT and Google’s Bard can produce reports, contracts, and application code far surpassing earlier technologies in speed, accuracy, and thoroughness. Other CIOs have adopted similar strategies.

IT 84

IT Insurance Strategy Risk 84

CIO Business Intelligence

DECEMBER 7, 2023

Along the way, business leaders in every industry have been scrambling to develop their generative AI strategies, address potential risks, and figure out the best next action while trying to stay one step ahead of the competition. Where will the biggest transformation occur first? First, it is clear that generative AI will transform business.

Insurance 61

Insurance Experimentation Finance Data Governance 61

Andrew White

JUNE 13, 2021

Your data strategy will be out of date as a result. Yes, the EU has its market-limiting Data Strategy that conflates goals of funding an EU-limited cloud to compete with American hyper scalers (see Methods for Valuing Data ). The result of these laws will impact first those firms operating in China and ultimately the global economy.

Data Strategy 52

Data Strategy Strategy Marketing Risk 52

IBM Big Data Hub

FEBRUARY 13, 2024

This data is fed into generational models, and there are a few to choose from, each developed to excel at a specific task. Generative adversarial networks (GANs) or variational autoencoders (VAEs) are used for images, videos, 3D models and music. Autoregressive models or large language models (LLMs) are used for text and language.

Enterprise 125

Enterprise Modeling Testing Data-driven 125

CIO Business Intelligence

OCTOBER 30, 2023

“I really do think about the two roles differently,” says Wiedenbeck, senior vice president and chief technology and transformation officer (CTTO) for the financial services and insurance company. “I I don’t think of it as an extension of the CIO job, but rather as a separate role to ensure we achieve transformation.

Digital Transformation 136

Digital Transformation Strategy Technology Enterprise 136